Climate: - temperate continental; - Mediterranean only on the southern Crimean coast; - precipitation disproportionately distributed, highest in west and north, lesser in east and southeast; - winters vary from cool along the Black Sea to cold farther inland; - summers are warm across the greater part of the country, hot in the south.
Macro indicators
* 2018 estimates
Surface:
603,628
km2
Population*:
42.1
million
Pop. density*:
69.7
people/km2
GDP*:
106.9
EUR billion
GDP/capita*:
2,541.1
EUR
Currency: Hryvnia Code: UAH Since: 1996
Insurance market portfolio * 2018 estimates
TOTAL LIFE*:
8
%
TOTAL NON-LIFE*:
92
%
Overall Property*:
22
%
Overall Motor*:
27
%
Sources: Starting July 1st, 2020, the National Bank of Ukraine took over all activities of financial market regulator, the State Commission for Regulation of Financial Services of Ukraine
MTPL insurers in Ukraine from January to October 2020 paid UAH 2.3 billion (~EUR 69 million*) to victims of road accidents, which is 11% more y-o-y, Forinshurer reports according to MTIBU.
MTPL GWP in January-November 2020 in Ukraine increased by 21.13% to UAH 5.58 billion (~EUR 0.16 billion*), while the number of contracts grew by 3.64% y-o-y.
At the end of 3Q2020, the Ukrainian insurance market amounted to almost UAH 33 billion (EUR 0.99 billion*), which means a decrease of 18.72% y-o-y (in UAH). At the same time, paid claims increased by 13%, according to data from the National Bank of Ukraine.
On December 16, 2020, 21 non-life insurers (GWP market share 55%, paid claims share 65%) and 10 life insurers (GWP share over 93%, paid claims share 98%) began the legal merger procedure, according to the website of the National Association of Insurers Ukraine.
December 1st, 2020 marked four years since the system of direct settlement of losses in MTPL was launched in Ukraine. Now, 15 MTIBU (Motor Transport Insurance Bureau of Ukraine) member companies are members of this system, according to the Bureau's website.
According to the MTIBU (Motor Transport Insurance Bureau of Ukraine), in the third quarter of 2020, the number of concluded MTPL agreements reached 2.24 million units, which is 8.7% more y-o-y. At the same time, collected GWP amounted to UAH 1.65 billion (+30%) (~EUR 49.75 million*), according to the Bureau's website.
MTIBU (Motor Transport Insurance Bureau of Ukraine) entered the most prestigious rating of TOP-25 innovative companies in Ukraine for the first time. The rating was carried out by the authoritative business publication "Vlast Deneg". MTIBU is the only insurance organization included in the rating, the Bureau reports.
From January to September 2020, total GWP of ARX and ARX Life amounted to UAH 2.2 billion (~EUR 66.33 million*), which is 17% more y-o-y, while total net profit of the two companies reached UAH 308 million (+168% y-o-y), as Forinsurer reported.
From January to September 2020, the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) paid UAH 12.2 million (~EUR 0.36 million*) from the Victim protection fund to the victims of road traffic accidents-clients of bankrupt insurers, as MTIBU said in its press release.
The Motor (Transport) Insurance Bureau of Ukraine (MTIBU) introduces new tariffs for Green Card insurance for travelling abroad by car, effective from October 19, OPEN4BUSINESS.COM.UA informed with reference to the Bureau.
According to the data for 1H2020, published by the National Bank of Ukraine, the market decreased by 23% y-o-y, to UAH 21 billion (EUR 701.43 million). At the same time, the downtrend was observed only in the non-life sector, while life insurance recorded an increase of almost 10%.
According to the results for 9 months of 2020 in Ukraine, the number of payments by the MTIBU Fund of protection of victims for uninsured drivers, responsible for road accidents, increased by 22% y-o-y while the amount of payments - by 23.5% y-o-y, MTIBU reported.
ARX insurance company, which is among TOP-3 non-life insurers in Ukraine, and the country's largest automotive media resource InfoCar announced a global partnership to make motor insurance more understandable and affordable, which also includes development and promotion of new products and online services, Forinsurer reports.
The number of traffic accidents in the country in 1H2020 amounted to 72.4 thousand, which is 1% less y-o-y, and the number of traffic accidents with injured decreased by 4%, to 11.2 thousand, while the mortality rate is 9.1 people per 100 thousand population, according to the press-release of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU).
For the period from January to June 2020, GWP under Green Card policies, issued by members of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) decreased to UAH 0.56 billion (~EUR 18.8 million*), which is 36.37% less y-o-y, Forinsurer reports.
UNIQA Ukraine insurance group, which includes UNIQA and UNIQA Life, received net profit before tax in the amount of UAH 324.5 million (~EUR 29.86 million*) in the first half of 2020, more y-o-y, as Forinsurer reports.
The number of MTPL contracts concluded in 2Q2020 amounted to 2.26 million units, which is almost at the same level as the prior year. MTPL GWP reached UAH 1.6 billion (~EUR 53.9 million*), which in local currency is 19.9% more y-o-y, as Motor (Transport) Insurance Bureau of Ukraine (MTIBU) informed on its website.
April 7, 2021 Dusit Thani Hotel, Dubai, United Arab Emirates Organizer: BIZ Events Management Media Partner: XPRIMM Publications For details: http://insuretek.org/